Palpa Cement Industries Limited Opens IPO for General Public

Kathmandu. Palpa Cement Industries Limited has opened the sale of its Initial Public Offering (IPO) to the general public starting today. The company stated that it has issued a total of 4.5 million units of ordinary shares for the general public group. 

Out of the issued shares, 281,250 units have been allocated for mutual funds and 281,250 units for the company's employees. General investors can apply for the remaining shares.

The company has informed that investors can apply for a minimum of 10 units and a maximum of 100,000 units. Applications for the IPO can be submitted through ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branch offices. Additionally, investors can also apply online through the 'Mero Share' system.

According to the company, this IPO will remain open until Falgun 15 at the earliest and Falgun 26 at the latest. There is a provision to extend the deadline if sufficient applications are not received within the specified period. 

Nabil Investment Banking Limited is managing the issuance and sale of this IPO. On Poush 9, the company received permission from the Securities Board of Nepal to issue an IPO of 7.5 million units worth 750 million rupees at a face value of 100 rupees per share.

Following that approval, the company already issued the IPO in the first phase starting Poush 25 for Nepali citizens employed abroad and local residents of the project-affected areas. It is expected that there will be significant investor interest in the IPO now opened for the general public.